Core Viewpoint - The article discusses the successful IPO of Moer Technology (摩尔线程), which is recognized as the "first domestic GPU stock," highlighting its rapid listing process and significant market performance post-IPO [2][3]. Group 1: IPO Details - Moer Technology's shares opened at 650 CNY per share, representing a 468.78% increase from the issue price of 114.28 CNY per share, with a total market capitalization exceeding 300 billion CNY [2]. - The total share capital of Moer Technology is approximately 47.0028 million shares, with 7 million shares issued in this public offering, all being new shares without any existing shares being transferred [2]. - The number of shares available for trading without restrictions is 29,382,386 shares [2]. Group 2: Subscription and Underwriting - In the new share subscription, offline investors subscribed to 39.2 million shares, contributing 4.48 billion CNY, with no shares abandoned [4]. - Online investors subscribed to 16.77 million shares, amounting to 1.917 billion CNY, with a minor abandonment of 29,302 shares valued at 334,860 CNY [4][7]. - The underwriter, CITIC Securities, will fully underwrite the shares that were abandoned, which constitutes approximately 0.05% of the final issuance quantity [7]. Group 3: Company Overview and Technology - Moer Technology is a full-function GPU chip company, which is relatively rare among domestic GPU enterprises, and has achieved significant technological breakthroughs with its self-developed MUSA architecture [9]. - The company's products are applicable in various fields, including AI model training, digital twins, consumer electronics, and cloud computing, serving critical industries such as energy and manufacturing [9]. - Moer Technology's MTT S80 graphics card has performance metrics close to NVIDIA's RTX 3060, and its MTT S5000 product has demonstrated superior efficiency compared to equivalent foreign GPU clusters [9]. Group 4: Financial Projections - The company anticipates a rising trend in performance due to the booming AI sector and accelerated domestic production processes, with projected revenues for the first half of 2025 reaching 702 million CNY [10]. - For the full year of 2025, Moer Technology expects revenues between 1.218 billion CNY and 1.498 billion CNY, representing a growth of 177.79% to 241.65% compared to the same period in 2024 [10]. - The projected net loss attributable to shareholders is estimated to be between 1.238 billion CNY and 878 million CNY after excluding non-recurring gains and losses [10].
摩尔线程涨疯了